Eseta Nadakuitavuki actively demonstrated her commitment to women’s empowerment during the launch of a collaborative initiative designed to support women in business.
As a former bank officer and Permanent Secretary for Women, Children, and Social Protection, Nadakuitavuki encouraged four financial institutions to sign a code dedicated to enhancing the interests of female entrepreneurs. The Women Entrepreneurs Finance Initiative (WE-Fi) Code was officially signed by Westpac Bank, Merchant Finance Limited, South Pacific Business Development, and the South Pacific Stock Exchange.
These new signatories join the Reserve Bank of Fiji, Fiji Development Bank, the Ministry of Women, Children and Social Protection, and the Ministry of Trade, Cooperatives, SMEs, and Communications, all of whom endorsed the Code in March of this year.
“We are advocating for the removal of barriers, emphasizing that women’s voices must be acknowledged and respected within the financial sector,” said Nadakuitavuki. She pointed out that cultural norms, insufficient financial literacy, and systemic biases are significant obstacles hindering women’s progress. “With the WE-Fi Code, we’re taking a stand,” she affirmed.
Fiji is among the first countries in the region and globally to adopt the Code, positioning the nation as a leader in this initiative, according to the Reserve Bank of Fiji (RBF). RBF Governor Ariff Ali stated, “The WE-Fi Code signifies a commitment from financial service providers, regulators, development banks, and other financial institutions to collaborate on increasing financial support for women-led micro, small, and medium enterprises worldwide, enabling their growth and contribution to economic development and community well-being.”
He praised the participating institutions as leaders in their fields and champions of women’s entrepreneurship. “By signing today, they are publicly affirming their dedication to supporting women in Fiji. I commend their readiness to make these commitments and lead by example,” Ali added.
The signing ceremony took place at the Reserve Bank and was attended by representatives from the four financial institutions and various ministries. This partnership represents a crucial step forward in Fiji’s effort to attain gender equality and economic prosperity for all, noted the RBF.
Through the Code, institutions pledge to enhance women’s access to financial services and support women-led MSMEs, while also fostering an environment conducive to gender-inclusive finance. Institutions commit to designating a Gender focal point within their organizations and providing valuable data regarding women-led MSMEs.
Westpac Fiji was the first commercial bank in the nation to adopt the code, stated Shane Smith, the bank’s CEO. “Our decision to implement the WE-Fi Code is in line with Westpac Fiji’s core values and our ongoing commitment to support women and girls within our organization and the broader community. This is reflected in our internal Women of Westpac Employee Action Group, our 40 percent representation of women in leadership roles, and 13 years of offering Women and Girls Education Grants.”